The European Union announced steel import restriction measures on the 7th, planning to significantly reduce the quota of steel imports eligible for tariff exemptions and increase the steel tariff from 25% to 50%.
According to the announcement released by the European Commission that day, the EU intends to set the annual steel import quota at 18.3 million tons, a 47% reduction compared to the 2024 steel import quota. For steel imports outside the quota, the EU plans to impose a 50% tariff, doubling the current 25% tariff.
The announcement shows that the EU will also take measures to strengthen the traceability of the origin of melted and cast steel products to prevent so-called “circumvention” practices.
The announcement stated that this move by the EU aims to address the negative impacts caused by global steel overcapacity and ensure the long-term development of the EU steel industry, a strategic sector.
According to the EU agenda, after the European Commission announced the restriction measures on the 7th, the European Parliament and the Council of the European Union will conduct reviews. If approved, these measures will take effect upon the expiry of the current EU measures in June 2026.
According to EU statistics, the EU currently has approximately 500 steel production bases spread across more than 20 member states, directly employing about 300,000 people and indirectly supporting approximately 2.5 million jobs.
In March of this year, after the US imposed a 25% tariff on all imported steel, the EU released the “Steel and Metal Industry Action Plan,” deciding to further tighten steel import restrictions. In June of this year, the US doubled the rate, imposing a 50% tariff on all imported steel.
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